Cost estimating: the theory and the practice

Irina Kosorukova
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Irina Kosorukova: Moscow University of Industry and Finance, Certified Appraiser Training Center

Journal of Modern Competition, 2009, issue 1, 135-143

Abstract: The agreement for appraisal services and appraisal report compilation requirements set by the Russian legislation are very strict and if the requirements are not met, the court of law has a right to issue a resolution stating that the agreement is null and void and the cost estimates are erroneous. That is why any customer should be aware of the appraisal and estimation-related operational requirements set by the legislation. This is the only way to decrease the risk of suffering from the bad consequences of the deal made in accordance with the costs estimates made by the appraisers and to decrease the risk of dealing with an incompetent individual and to save the money (the sums are sometimes quite large). Without doing an in-depth research, the article author offers the public to take a look at the legislation requirements and the appraisal standards that any appraiser has to meet when preparing an appraisal report.

Date: 2009
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